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Complete the following Spreadsheet for the preparation of statement of cash flows under the indirect method. (The statement of cash flows is not required.) (Enter
Complete the following Spreadsheet for the preparation of statement of cash flows under the indirect method. (The statement of cash flows is not required.) (Enter all amounts as positive values.) Additional information: a. Net income for the year was $118,000. b. Dividends of $116,000 cash were declared and paid. c. The only noncash expense was $88,000 of depreciation d. Purchased plant assets for $88,000 cash. e. Notes payable of $38,000 were issued for $38,000 cash f. $88,000 increase in accounts receivable. g. $38.000 decrease in inventory h. $28,000 decrease in accounts payable. SCORETECK CORPORATION Spreadsheet for Statement of Cash Flows - Indirect Method For Year Ended December 31, 2019 Analysis of Changes Dec 31, 2018 Debit Credit Dec 31, 2019 Balance Sheet-Debit Bal Accounts Cash 95.000 134,000 138,000 Accounts receivable 225 000 Inventory 295 000 243 000 Plant assets 518 000 705 000 S 1.175.000 1275.000 Balance SheetCredit Bal. Accounts Accumulated depreciation Accounts payable Notes payable Common stock Retained earnings 118,000 186,000 388,000 218,000 266,000 1,176,000 206,000 158,000 426,000 218,000 268,000 1,276,000 Statement of Cash Flows Operating activities Investing activities Financing activities
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